Tanishq plans to set up 200 more stores in small towns

Tanishq, the jewellery brand of Titan Company, plans to spread two-third of its expansion footprint across tier-II and tier-III geographies. Overall, the Tata Group firm aims to reach out to at least 130 new small towns while setting up 200 more outlets in the next five years in India. Tanishq retail chain currently has 275 exclusive boutique stores in 170 cities. Out of that 226 are franchise and 50 outlets are company-owned. Setting up a Tanishq shop in a small town costs around Rs 15-20 crore, while a big-format outlet Rs 40-50 crore, according to a source. This increasing vibrancy in the retail sector with the launch of new Tanishq stores is a new business opportunity for the signage companies handling in-store projects.